Common use of Margin Close out Level Clause in Contracts

Margin Close out Level. 11.1. It is your responsibility to monitor your Account(s) at all times and to maintain your Margin Requirement. If the Margin Level for your Account reaches or falls below the Margin Close Out Level, this will be classified as an Event of Default under clause 17. In such circumstances we may, among other things, close all or any of your Open Positions immediately and without notice and refuse to execute new Trades until your Margin Level is 100% or greater. We will close your Open Positions at Our Price prevailing at the time when your Open Positions are closed. 11.2. We may but are not obliged to contact you before we take any action under clause 11.1. 11.3. You will be notified of the Margin Close Out Level applicable to your Account in the Product Disclosure Statement. We may alter the Margin Close Out Level applicable to your Account at any time. Subject to our rights in clauses 16 and 17, we will provide you with at least three (3) days notice of any change to your Margin Close Out Level. It is your responsibility to remain informed about the Margin Close Out Level applicable to your Account. 11.4. We will be entitled to notify you of an alteration to your Margin Close Out Level by any of the following means: post, telephone, fax, e-mail, text message or by posting notice of the increase on the Website or Trading Platform. 11.5. The Margin Close Out Level is designed to help limit the extent of your trading losses. We do not however guarantee that your Open Positions will be closed when the Margin Level for your Account reaches the Margin Close Out Level or that your losses will be limited to the amount of funds you have deposited in your Account.